The start of construction this week on a five-story office building at the Ellis Preserve in Newtown Square marks entry into the final phase of construction there.
The 106,000 Square foot building is slated to open in the summer of 2024, writes Paul Schwedelson for Philadelphia Business Journal. It will have one tenant who has not yet been identified.
The office building at 203 Squire Drive will use mostly mass timber, compressed layers of wood that give it load-bearing strength but won’t have the carbon output of steel and concrete.
“In 20 years, I think this will be the norm,” said Equus Senior Vice President of Acquisitions and Development Steve Spaeder. “It wins from an architectural perspective, it wins from an environmental and social perspective.”
Final development will also include a 140-room Marriott AC Hotel, 75,000 square feet of retail, including restaurants and entertainment venues, an 18,000 square-foot wedding venue, and 200 apartments.
The projects are in various stages of development with the apartments expected to open in February.
Ellis Preserve covers 213 acres and now has 364,000 square feet of new retail, dining, event, and hotel space and 1.4 million square feet of office, lab, and manufacturing space.
Find out more about Ellis Preserve.